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Image Resources is now targeting cash-flow positive status by end-March after loading the first bulk shipment of heavy mineral concentrate from its 100%-owned Boonanarring mineral sands project 80km N of Perth in Western Australia.The new producer credits a remarkable first month of production to enable the 10,000wmt shipment after completing the wet commissioning of Boonanarring’s HMC production facilities at end-Nov.Ore...

The performance turnaround at Metals X’s 100%-owned Nifty copper operations appears to be gathering pace, with higher Dec qtr (Q2FY19) production and development.Its focus on developing and stoping in new areas outside the Central Zone saw the once-struggling mine in Western Australia’s East Pilbara region deliver 5,177t copper in concentrate, up from 4,678t in Q1.Development to open up more new production areas accelerated by...

Australian coal miner TerraCom is maintaining FY19 coal sales guidance for its Blair Athol thermal coal mine despite a decline in Dec qtr (Q2FY19) sales to 605,423t, from 637,000t in Q1.The Bowen Basin, Qld mine posted first half sales of 1,218,981t at an average realised price of $US92/t.A strong start to the March qtr, with its first shipment on Jan 5, underpins the company’s confidence it will meet its full year target of 2.5Mt.

The Angolan government’s ambitions to reform and grow its mining sector faces the first major step on Jan 31 with the inaugural competitive bid sale of diamonds from Lucapa Diamond’s high-quality Lulo mine.Lucapa says seven exceptional Lulo diamonds will be offered in the competitive bid sale organised by state-owned trading company SODIAM.The Australian-based international producer has strongly supported the...

US gold miner Newmont Mining has launched a mutually agreed $US10B stock-for-stock takeover bid for Canada’s Goldcorp to create the world’s largest gold company producing up to 7Moz pa over the next decade.

NEWMONT $10B BID FOR GOLDCORPREAD THE FULL STORY IN BULLETIN. Click...

US gold miner Newmont Mining has launched a mutually agreed $US10B stock-for-stock takeover bid for Canada’s Goldcorp to create the world’s largest gold company producing up to 7Moz pa over the next decade.The deal will see Newmont acquire each Goldcorp share for 0.3280 of a Newmont share, a 17% premium on the company’s 20-day volume weighted average share price, the new entity to be called Newmont Goldcorp with an unmatched portfolio...

Australian-based explorer Valor Resources has attracted Rio Tinto group company Kennecott Exploration as partner on its PFS-stage Berenguela copper-silver-manganese project in the Puno department of S Peru.Kennecott signed an option agreement under which it may pay $US10.7M over 4 years to earn a 75% JV interest in the 772Mlb contained copper and 127Moz contained silver project.Valor exec director says Kennecott’...

West Australian miner Gascoyne Resources has confirmed the appointment of investment and financial services company Macquarie Capital as financial advisor as it battles the impact of a downturn in performance at its Dalgaranga gold mine.While its key focus remains on improving Dalgaranga performance, Gascoyne says Macquarie will advise it on a number of corporate and financial matters following the material fall in its...

The record performances have continued for Australian producer Red River at its Thalanga zinc project 65km SW of Charters Towers in C Qld, achieving concentrate production of 7,695t zinc, 3,007t lead and 725t copper for the Dec qtr (Q2FY19) – up from 6,800t Zn, 2,747t Pb and 417t Cu in Q1.Copper recoveries to copper concentrate improved for the third successive period, reach 54.1% from 35.1% in the Sept qtr.MD...